Colombia has designated a special protective status for the "Holy Grail of shipwrecks," discovered last year in the Caribbean, to enable scientists to explore and preserve this significant find. The news was reported by Agence France-Presse and CNN.

The San Jose, which sank on June 8, 1708, during the War of Spanish Succession, has sparked a heated ownership dispute involving Colombia, Spain, Bolivia, and the U.S. Colombia, which found the ship in 2015, has made investigating and potentially recovering its treasure a priority for President Gustavo Petro's administration.

The San Jose's treasure is estimated to be worth a staggering $17 billion and includes 200 tons of silver and emeralds, as well as around eleven million gold coins.

By designating the site as a "protected archaeological area," Colombia aims to ensure its "long-term preservation." The culture ministry stated that these measures will "guarantee the protection of heritage" and facilitate "research, conservation, and valuation activities."

Meanwhile, the American company Sea Search Armada claims they discovered the San Jose in the 1980s and has sued the Colombian government in the Permanent Court of Arbitration, seeking approximately $10 billion of the treasure.

"This is not a treasure; we do not treat it as such," Culture Minister Juan David Correa emphasized.

Despite the ongoing legal dispute, Colombia continues to investigate and document the wreck. The Colombian Institute of Anthropology and History (ICANH) plans to use non-intrusive remote sensors to photograph the interior. Depending on their findings, further archaeological expeditions may follow.

"This government is undertaking something unprecedented," Correa said, "exploring the galleon's sinking to deepen our understanding of history and culture."